Insurance companies are always interested in finding new ideas to best their competitors. "Renewals and new business presentations are taking place all year," said Kendra Bringman, director of marketing and sales for The Leslie Company, Olathe, Kan. Insurance companies make pitches to people and corporations season after season, and this constant marketing requires a constant stream of promotional products. Whether it's products that will be useful in a bind, like ice scrapers and windshield shades, or products that illustrate the professionalism of the company, like custom folders and presentation materials, insurance companies aim for new and interesting products to attract consumers and outdo their rivals.
The recession has interfered with the battle between insurance companies as they fight with their budgets and not each other. Though the economy has improved, insurance companies are still having difficulty reaching out to consumers. "Their clients (people like you and I) are pulling back on insurance. This has forced them to evaluate their budgets and ensure maximum return on investment for each dollar spent," explained Jim Hanika, co-owner of Proforma Amplified, Grosse Pointe Farms, Mich. The significance of every dollar means that promotional products are more necessary than ever. On the following pages, suppliers and distributors offer insight into the differences between big and small insurance companies and the best way to market your products to the recession-impacted industry.
LARGE VS. SMALL
Insurance companies are regularly looking for new marketing opportunities, whether the company is big or small. Yet, the options for companies change depending on their size. "The size of the orders [from large and small companies] will be very different but the product mix is similar," said Phil Harris, vice president of sales and marketing for Crown Products, Mobile, Ala.
According to Jeff Lederer, executive vice president of Prime Line, Bridgeport, Conn., the funds of national insurance corporations allow them to order more frequently throughout the year, which means their products circulate more than products from local and regional companies. "Larger companies are also interested in some of our custom-sourcing items like bobble-heads and puzzles, which are very detailed and customized to their requirements and services provided," said Lederer. Because large companies have more available capital, they are able to order items designed to their specifications.